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6 Things You Need To Know About Credit Card Fraud

02.27.2012 · Posted in Business News Article

Everyone thinks that credit card fraud couldn’t happen to them. When in reality, fraud can happen to anyone at any moment. It’s unexpected and often very sudden when a thief decides that he wants your information and knows how to take it. Credit card fraud scams are increasing in numbers by the day at an almost uncontrollable rate. Every credit card owner needs to be aware of these 5 things that could save you a lot of sweat, money, and tears. rnrnCredit Card Fraud Definition rnrnCredit card fraud is a broad term that is used to describe theft using a credit card or debit card as the means of stealing. Most thieves have intent to steal money, personal information, or to make purchases for expensive electronics and clothing. This type of fraud is also a type of identity theft, since the criminal is using your personal information as if he were you. rnrnCredit Card Fraud Statistics – It Hurts More Than You ThinkrnrnStatistics suggest that credit fraud is staggeringly high and common. In the United States alone victims of this type of theft rose 12% in 2010, but this number could be inaccurate since theft statistics have only been monitored since 2003. Only half of all victims file a report with their local police station. More people reporting could result in tighter security of credit identity. rnrnAnother shocking statistic? Women are more likely, by about 26%, to become victims of credit card fraud scams. This can be amounted to having a more trusting nature or being chronically stressed, therefore absent minded. rnrnStatistics on credit card fraud are constantly changing as the economy changes. What is true today may be different tomorrow, which is a frightening concept for most. rnrnYour Gas Pump May Not Be Safe rnrnCredit card skimmers are popping up everywhere, and it is one of the most dangerous devices that you don’t even know exists. These devices are cheap and easy to obtain, and anyone that is a little computer savvy can attach one to an unsuspecting ATM or gas pump and mine out your information. They collect the information when the card is swiped, and within two seconds your information is in the hands of a criminal.rnrnAnother scary place where skimming is commonly done is inside restaurants. You hand over your credit card and you don’t see it for a few minutes. Sometimes you can’t even see your waiter that took the card from you. rnrnYou Can Protect Yourself – But Not Much rnrnYou can prevent fraud by being careful about where you use your credit cards and how they are used. Guard your pin number closely and avoid using a card in high risk situations such as in restaurants, at the gas pump, and at shady ATM machines. With all of this effort there are still ways your information can be stolen, which only leaves hiring professional services to protect your information before someone else steals it.

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